China: People’s Bank of China leaves 1- and 5-year LPR rates on hold for the 18th consecutive month

The People’s Bank of China – central bank of China – left unchanged one-year and five-year loan prime rate (LPR) rates at 3.85% and 4.65% respectively, as expected. It is the 18th consecutive month that rates are left unchanged.

LPR rates are the reference rates on loans that are set monthly by 18 Chinese banks.